Munich Re says $615 mln in total hurricane exposure

LONDON (CBS.MW) -- Munich Re
MUV2, +0.15%
shares continued to be in the red in Frankfurt trade after the group said on a conference call it sees the total exposure to recent hurricanes at about 500 million euros ($615 million) and reaffirmed its 2 billion euro fiscal year net income goal, AFX News said. Swiss Re
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earlier in the day said it expects claims related to Hurricane Ivan and Typhoon Songda to be approximately $300 million before tax.

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